nVent Electric plc (NYSE:NVT) Stock Holdings Increased by State Street Corp

State Street Corp raised its stake in nVent Electric plc (NYSE:NVT - Free Report) by 0.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,031,623 shares of the company's stock after purchasing an additional 42,465 shares during the period. State Street Corp owned 3.05% of nVent Electric worth $353,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of NVT. Larson Financial Group LLC increased its position in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company's stock worth $27,000 after purchasing an additional 181 shares during the last quarter. UMB Bank n.a. increased its position in shares of nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company's stock worth $29,000 after purchasing an additional 308 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of nVent Electric in the 3rd quarter worth about $29,000. ORG Partners LLC bought a new stake in shares of nVent Electric in the 2nd quarter worth about $31,000. Finally, First Foundation Advisors bought a new stake in shares of nVent Electric in the 2nd quarter worth about $34,000. Institutional investors own 90.05% of the company's stock.

nVent Electric Stock Performance

nVent Electric stock traded down $0.63 during midday trading on Tuesday, reaching $74.44. 1,222,004 shares of the stock traded hands, compared to its average volume of 1,571,416. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $74.44 and a two-hundred day moving average price of $72.89. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 3.96 and a beta of 1.25. nVent Electric plc has a fifty-two week low of $55.19 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.18). The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 earnings per share. On average, equities research analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Friday, October 18th. nVent Electric's payout ratio is 22.29%.

Insider Transactions at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares of the company's stock, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the sale, the executive vice president now directly owns 58,121 shares of the company's stock, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 96,382 shares of company stock valued at $7,365,956. Company insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NVT shares. Citigroup boosted their target price on shares of nVent Electric from $78.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday. Royal Bank of Canada decreased their price target on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Barclays lifted their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Finally, KeyCorp lifted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $85.50.

nVent Electric Company Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.